Center for Health Market Innovations (CHMI)

Programs

Anjali Microfinance Health Insurance

last updated Mar 26, 2013

Overview

Implementing organization: 
Anjali Microfinance
Implementation Partner(s): 
Bharti AXA General Insurance
Year Launched: 
2010
Stage: 
Existing/expansion stage
Income Level of Target Population: 
Bottom 20%, 20-60% (lower to lower-middle)

Funding

Primary Source of Funding: 
Membership/subscription fees
Summary: 

Anjali Microfinance provides health insurance (in addition to life and general insurance) bundled with savings options, coverage of the member's loan in the event of illness, education of their children, and critical illness.

Program goals/rationale: 

Anjali Microfinance aims to:
* Generate livelihood solutions across the length and breadth of the country
* Compliment world class delivery practices with IT enabled services for sustainable growth
* Encourage women to improve their well being through sustainable micro-finance
* Constantly endeavour towards Pro-Poor Development and Civil Society Strengthening
* Combine a for-profit approach that is self-sustaining and a poverty alleviation focus that empowers low-income households

Key program components: 

The voluntary product, underwritten by Bharti AXA General Insurance, provides health coverage for the policyholder and his/her spouse at an annual rate of US$6.60 (Rs. 300). Children can be added for a fee of US$2 (Rs. 85) per child per year. The sum insured for a family of four is US$1,111 (Rs. 50,000). Coverage also includes pre-hospitalization up to US$6.66 (Rs. 300) and reimbursement of wages of US$2 (Rs. 100) after 3 days of hospitalization for a maximum of 10 days in a year (as of 2011).

Provider payments are cashless for the policyholder (as of 2011).

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